KLCI falls 13.92 points as local stocks catch up with regional decline

KUALA LUMPUR (Sept 12): The FBM KLCI fell 13.92 points or 0.77% to close at 1,785.25 today in what appears to be a catch-up with the decline in other Asian markets as it reopened after a two-day holiday.

Market breadth across the bourse was strongly negative, with 778 stocks declining and just 146 recording gains.

“It looks like contagion fears are increasing," said said Stephen Soo, senior technical analyst at TA Securities. "It could also be a currency play, with regional funds continuing to exit.”